Essentials of Microeconomics

Cover
Half Title
Endorsement
Title Page
Copyright Page
Table of Contents
List of Illustrations
Part I Key concepts and tools
	1 Key economic concepts
		1.1 Introduction
		1.2 Scarcity and opportunity cost
		1.3 Marginal analysis
		1.4 Ceteris paribus
		1.5 Correlation and causation
		1.6 Concluding comments
	2 Key mathematical tools
		2.1 Introduction
		2.2 Equations
		2.3 Differentiation
		2.4 Elasticity
		2.5 Simultaneous equations
		2.6 Concluding comments
	3 Key strategic tools
		3.1 Introduction
		3.2 The essentials of game theory
		3.3 Simultaneous-move games
		3.4 Some types of simultaneous-move games
		3.5 Sequential games
		3.6 Concluding comments
Part II Gains from trade
	4 Trade and the PPF
		4.1 Introduction
		4.2 Gains from exchange
		4.3 Gains from specialisation
		4.4 Concluding comments
	5 Bargaining
		5.1 Introduction
		5.2 Bargaining and surplus
		5.3 Take-it-or-leave-it negotiations
		5.4 Multiple-offer bargaining
		5.5 Some caveats
		5.6 Concluding comments
Part III Market fundamentals
	6 Demand
		6.1 Introduction
		6.2 Benefit and willingness to pay
		6.3 Individual demand
		6.4 Market demand
		6.5 Concluding comments
	7 Production and costs
		7.1 Introduction
		7.2 The short run and long run
		7.3 Production
		7.4 Short-run costs
		7.5 Long-run costs
		7.6 Total revenue, total cost and economic profit
		7.7 Concluding comments
	8 Supply
		8.1 Introduction
		8.2 Firm supply
		8.3 Market supply
		8.4 Concluding comments
	9 Equilibrium and welfare
		9.1 Introduction
		9.2 Market equilibrium
		9.3 Comparative static analysis
		9.4 Welfare
		9.5 Pareto efficiency
		9.6 Concluding comments
	10 Elasticity
		10.1 Introduction
		10.2 Measuring elasticity
		10.3 Applications
		10.4 Concluding comments
Part IV Types of markets
	11 Introduction to markets
		11.1 Introduction to the four types of markets
	12 Perfect competition
		12.1 Introduction
		12.2 Characteristics of perfect competition
		12.3 Supply in the short run
		12.4 Supply in the long run
		12.5 Market supply in the long run
		12.6 Concluding comments
	13 Monopoly
		13.1 Introduction
		13.2 Characteristics of a monopoly
		13.3 The single-price monopolist
		13.4 Welfare under the single-price monopolist
		13.5 Price discrimination
		13.6 Natural monopoly
		13.7 Regulating a natural monopoly
		13.8 Concluding comments
	14 Monopolistic competition
		14.1 Introduction
		14.2 Characteristics of monopolistic competition
		14.3 The short run
		14.4 The long run
		14.5 Welfare under monopolistic competition
		14.6 Concluding comments
	15 Oligopoly
		15.1 Introduction
		15.2 Characteristics of an oligopoly
		15.3 Simultaneous-move games
		15.4 Product choice: an application of a coordination game
		15.5 Sequential games
		15.6 Concluding comments
Part V Market failures
	16 Price regulation, taxes and subsidies
		16.1 Introduction
		16.2 Price regulation
		16.3 Taxes and subsidies
		16.4 Concluding comments
	17 Externalities
		17.1 Introduction
		17.2 External costs and benefits
		17.3 The problem with externalities
		17.4 Solutions to externalities
		17.5 Government solutions to externalities
		17.6 Concluding comments
	18 Public goods and common resources
		18.1 Introduction
		18.2 Public goods
		18.3 Common resources and the Tragedy of the Commons
		18.4 Concluding comments
Part VI International trade
	19 International trade
		19.1 Introduction
		19.2 The welfare effects of international trade
		19.3 Barriers to trade
		19.4 Arguments against free trade
		19.5 Concluding comments
Part VII Economics in practice
	20 Some other markets
		20.1 Introduction
		20.2 The housing market
		20.3 The labour market
		20.4 The capital market
		20.5 Concluding comments
	21 Economic policy
		21.1 Introduction
		21.2 Economic policy in practice: some examples
		21.3 The Theory of Second Best
		21.4 The policy cycle
		21.5 Concluding comments
	22 Economics and evidence
		22.1 Introduction
		22.2 Econometrics and statistics
		22.3 Experimental economics
		22.4 Behavioural economics
		22.5 Concluding comments
Part VIII Review
	23 Questions & answers
Index